Sky has confirmed that it has received a takeover offer from Star TV India owner, 21st Century Fox.
21st Century Fox behind hit shows like ‘The Simpsons’ and ‘The Modern Family’, also runs Hollywood’s largest studio, 20th Century Fox. Incidentally, media tycoon Rupert Murdoch, who owns the company already has a 39.1% stake in Sky. Rumours of a full control takeover have been doing the rounds for a long time.
Sky News reports that the cash offer values Sky shares at 1075p each, putting a valuation on the company of £18.48bn.
According to reports, Fox must “clarify its intentions” by 6th January, or walk away for at least six months under UK takeover rules.
Star TV India, which runs Star Plus, is a fully owned subsidiary of 21st Century Fox.
Keep it with BizAsiaLive.com for developments.